ECONOMY

Moody's downgrades PH growth outlook to 6.2%

September remittances had fastest growth in 29 months

Moody's Analytics downgraded its growth outlook for the Philippines for 2021 to 6.2% from 7.8%, citing the government's tepid fiscal response.

Cash inflows coursed through banks rose 9.1% year-on-year to $2.88 B in September, the fastest since the 12.7% annual uptick in April 2018.

PEZA registers P73 B projects from Jan-Oct 2020

Inflation forecast at 2%-4% in next 2 months

PEZA-registered projects in the first 10 months of the year have reached P72.6 B, 27% lower than the P99.3 B approved projects in the same period in 2019.

Headline inflation in the next few months could fall below the official 2% to 4% target range set by the BSP.

M.I.C.E.

PH tourism outlook remains bleak for 2021

Three El Nido Resorts named Asia's best

The outlook for tourism next year remains bleak, with the Philippines struggling to contain the coronavirus pandemic and as travelers await the development of a vaccine.

Three resorts of the luxury chain El Nido Resorts were recognized as 2020 Readers' Choice Awards for Best Resorts in Asia of the prestigious lifestyle publication Condé Nast Traveler.

PH pavilion at Dubai expo nearing completion

China trade show targets lower for PHL delegation

THE Philippine pavilion for the rescheduled Dubai World Expo is nearly complete with 70% of construction work already finished.

The Philippine delegation to a trade show in China is targeting $160 M in export deals this year, a drastic downgrade after a reduction in the size of its pavilion.

TRADE &
INDUSTRY

China's COVID19 rule worries banana growers

Export earnings from abaca hit $97.7 M in 1H2020

The PBGEA expressed concern over China's mandatory disinfection of food imports as a precautionary measure against COVID19, as it could hike business costs and affect shipments.

The value of the country's abaca exports in the 1H2020 grew by almost 5% to $97.708 M from last year's $93.194 M.

Exporters lose P6 B sales from trade fair cancellations due to COVID19

Philguarantee approves P42 B in guarantees for MSME loans

Philippine exporters lost more than P6 B worth of sales from the cancellation of trade fairs abroad and will miss out on all of them next year with minimal government subsidy in hand.

Philguarantee approved P42.3 B worth of credit guarantee facilities to cover loans taken out by MSMEs from banks.

TRENDS

Holiday shopping trends in 2020

The future of food: meatless?

E-commerce continues to boom with 37% of consumers planning to shop more online this year, while omnichannel remains the spice for this holiday season as consumers look to multiple channels for gift inspiration.

Due to health concerns, people are increasingly eating alternative sources of protein and consuming less meat.

Online shopping is the convenience store of the future

The reinvention of retail under the new normal

E-commerce has transformed online shopping into the convenience store of the future and this has critical implications for brands and retailers.

Consumer appetite for digital and contactless ways of shopping has radically increased during the COVID-19 shutdowns as retailers quickly sought to change their priorities and operations.

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